Getting your finances all sorted out at a young age is a dream come true for many people. But in order to achieve that, you need to be educated enough about how to manage your finances properly and how to find sustainable investments. But does everyone actually have the time to self-study all that and even get enough experience to know just how the economy works? That kind of knowledge can only be obtained from an experienced financial advisor. The question is, “when would be the best time to hire a financial advisor?” This simple guide should be able to steer you in the right direction.
When to Seek Out Financial Advice
With the advent of the internet and social media, information on various topics is now readily available, especially finance. However, it will take you an entire lifetime to go through all that material and become familiar and confident enough to make financial decisions. That’s why a financial advisor brings you all that wealth of knowledge almost instantly. Having a financial planner you can trust can make every difference in the world. You just need to find the right time to hire a competent one.
Should you hire one when you’re finally well off into your career? Or is it better to get one right from the start? Honestly, the situation you’re in will have the most significant impact on when you could hire a financial advisor. So to start it off, you should first look at the many occasions when it could be helpful to work with someone who knows the ins and outs of financial planning. The following are examples of those situations:
- Starting your first job
- Getting engaged or married
- Planning for a baby
- Saving for your child’s education
- Switching jobs or careers
- Buying a house
- Losing your job
- Going back to school
- Getting divorced
- Starting a business
- Coming into an inheritance
- Making plans for your estate
- Planning a sabbatical or leave of absence
You may have noticed that most of these situations are practically major milestones in your adult life. The key is to not hesitate to ask for help from a wealth management advisor if you’ve hit any of those milestones. It’s at those points that an advisor would be beneficial and can offer valuable advice that could potentially be life-changing.
How to Find Financial Planning Help
Looking at the scenarios above, there are many occasions in your life where you can definitely hire a financial advisor. The good news is that many providers out there can offer their help, depending on the type of service and budget that you have.
To begin your search, you can look through online directories that list a number of qualified professionals who work in your area. You can also ask your friends and colleagues if they know someone they trust to provide financial advice in a professional capacity. Just remember to look for a financial advisor licensed by the Australian Financial Services (AFS) and have passed the national examination conducted by the Financial Standards and Ethics Authority (FASEA).
Conclusion
Hiring a financial professional to help you settle and organise your finances depends on your needs, goals, and current financial situation. Based on this guide, if you think it’s time to seek out an advisor that can help you, contact someone reputable and trustworthy, just like New Wave Financial Planning professionals.
New Wave Financial Planning is a trusted, dynamic, and forward-thinking financial advice firm. By embracing the best technological advancements and financial planning techniques, we provide quality service to our clients. Whenever you need sound financial advice, some of the best financial advisors in the industry are here to help. Contact us today to get started!
